Dec 9, 2012 2:30am EST
conference from ben bernanke. wednesday is his birthday. happy birthday, mr. chairman. retail sales report out on wednesday as is the first of two with inflation indicators the producer price index that tracks prices at the wholesale level followed up on friday with the consumer price index which follows. >>> finally, if you are on this list it doesn't death set you apart. professional networking site released the overused buzz words on user profiles. they are so often used they lose significance with hiring managers. analyzing 187 million profiles around the globe, linkedin found create zif the top offender in the united states as well as seven other countries. rounding out the top five, organizational, effective, motivated and extensive experience. using buzz words in an effort to land your dream gig can be a buzz kill. just fyi. thank you for joining us. my guest next week grover norquist. we will get an update on where we stand on the fiscal cliff negotiation. each week keep it here where wall street meets main street. have a great week, everybody.
Dec 9, 2012 11:00am EST
of the fiscal cliff situation denting consumer confidence and business confidence so you really need ben bernanke in there. on friday.t news >> unemployment report was better than expected but needs to be better than that. >> buzz in washington about whether susan rice or john kerry will be the next secretary of state and i'm told the president hasn't made up his mind yet and may not make up his mind until january. he wants to get the fiscal cliff business done with so don't be in a rush to await that decision. chris: when we return, the the week, will barack obama's scores in the second term be on foreign policy or here at home? chris: welcome back. syria, egypt and afghanistan are just the foreign policy challenges we already know about russia out china and there which brings us to the big question this week -- will the president's second term triumphs be abroad or here at home? >> i think his second term will be defined by foreign policy and looming confrontation over iran. chris: politco has spoken. >> despite all of the domestic issues, he will have a bigger role to play on the worl
Dec 8, 2012 7:00pm EST
it was being pre-emptive. i wonder if ben bernanke or his follower could preemptively raise rates with the legacy of five years of unemployment. >> host: in this context the book that should have been called volcker roles. [laughter] >> they wanted to pay extra for that. [laughter] death threats is really to show the power of the central bank to influence the economy so the question facing today as a dead to much to compensate for the political arena where nothing has been done? >> we are in a situation of the thirties and listen driven home to many economists that the great mistake was in the 1930's with the federal reserve thereto late to was there easing and under those particular circumstances, i hope that less than it is not so imbedded but you could argue the traditional powers of the federal reserve would be exhausted. maybe one or two in the toolbox but nothing dramatic. but we have to rely upon others or the low return and animal spirit to keep the economy going. were the great financial expansion with the housing market have been 10 japan still fully with europe and the
Dec 9, 2012 7:00am EST
about and that's why ben bernanke cannot put the phrase. guest: as exactly right, we have two very different problems. the only reason we're talking about the second issue is politics. this is the politics of the moment tromping economic common sense which is a dangerous combination. guest: the fiscal solution is a fig leaf to allow members of congress to say we're going to spend so the spending cuts and tax increases and let the deficit be $500 billion higher. host: the debt is at $16.30 trillion and has increased $4 trillion over the last four years. the present and congress will say that over the next 10 years, we will get it back to where was in 2009, correct? guest: that is fundamentally not good enough. countries with our level of indebtedness grow more slowly and they have a higher chance of some sort of fiscal crisis. we should not mess with either one of those things. i would like to see an aggressive reform of the spending programs. let's not get back to where it was but start going down. that does not have to be austerity. imagine fixing social security. right now, it is